Ask Terry Questions Small business owner options

Small business owner options

By Terry Savage on May 03, 2020 | Wild Card

My son has a small tattoo parlor in Phoenix. He is closed because oh Covid. He says he can’t claim unemployment and his stimulus check has not arrived yet but hopefully will soon. He went on the IRS site and added his bank information. What other options does he have to offset his missing income? Thank you very much. I listen to you on WGN all the time.

Terry Says

Well, if he filed a tax return for 2018 or 2019, the stimulus payment will come to the address on his return, likely sometime in May. But if he did NOT file a tax return in the past two years, he needs to register here:
https://www.freefilefillableforms.com/#/fd/EconomicImpactPayment

And separately, he is likely very eligible for unemployment in Arizona. The Cares Act said that self-employed individual scan register for unemployment, plus the $600/week Federal benefit. He should go on the Arizona website and try to register. Many states, like Illinois, have had to create an entirely new web portal for the self-employed to register, because it is a completely different process.So it may take a while for him to get registered, but he should definitely try.

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